“The 4th Annual Islamic Finance Summit”, was staged on Tuesday the 22nd to Wednesday the 24th of February in London. The Euromoney Conference enveloped a number of primary officials, and sponsors coming from the Middle East, South East Asia, Europe, and North America. Issues and debates were discussed under the theme “Developing a Comprehensive Islamic Financial System”.
Sheikh Ahmed Bin Mohammed Al-Khalifa was recognized with an award for “Outstanding Contribution to the development of Islamic Finance” during the Gala Dinner at the event. Mr. Anwar Khalifa Al-Sadah – Executive Director—Financial Inst. Supervision received the award on his behalf. Achievements in the global Islamic Finance Sector in addition to acknowledging the banks with outstanding performance, quality of service, innovative and progressive business structures were highlighted that evening.
Mr. Rasheed Al-Maraj, Governor of the Bahrain Monetary Agency gave the opening address to a leading gathering of key officials from the Islamic Finance Industry. He highlighted some of the challenges facing the industry in order to continue building on the success to date. “The various episodes of financial stress that occurred in different markets across the world during the 1990s revealed the importance of strong regulation as an essential component of financial stability. It was a lesson, perhaps, most strongly felt in certain developing and emerging market jurisdictions – jurisdictions, of course, where many Islamic banks and investment houses operate,” said the Governor.
“The success of conferences such as these shows, in a very tangible manner, the level of interest that now exists throughout the world in Islamic finance. Islamic finance is still relatively young as a modern-day phenomenon, but it clearly is coming of age and is here to stay” Mr. Rasheed Al-Maraj added.
